Polysilicon prices fell slightly this week. Among them, the transaction price of n-type rod silicon was 40,000-43,000 yuan/ton, and the average transaction price was 40,800 yuan/ton, down 2.39% month-on-month. The transaction price range of P-type dense polysilicon was 34,000-39,000 yuan/ton, and the average transaction price was 37,300 yuan/ton, which was flat month-on-month. The transaction price range of n-type granular silicon was 37,000-39,000 yuan/ton, and the average transaction price was 37,500 yuan/ton, which was flat month-on-month. At present, the price of granular silicon has been stable for 4 consecutive weeks, and has basically been at the bottom of the price.

This week, most of the polysilicon transactions were mainly for n-type, while there was no separate transaction for p-type, and most of them were sold following the n-type mixed package. According to statistics, 5 n-type polysilicon companies had new transactions this week, and only some of the leading companies signed a large number of orders. The rest of the companies had relatively flat transactions, and the polysilicon side continued to accumulate inventory. Enterprises perceive that the frequency of downstream inquiries has accelerated recently, the willingness to sign orders has increased, and the actual transaction situation has not improved significantly, but it is expected to recover in the near future. From the perspective of raw materials, the price of industrial silicon has stabilized, and the purchase price of silicon powder has been slightly increased by 100-200 yuan recently, which has a certain positive impact on the stability of polysilicon prices. In summary, the polysilicon market has not been active in recent years, and there is still a large inventory of about 30 GW of downstream wafers, and the pace of destocking cannot be transmitted to the upstream. Polysilicon companies are accelerating the shutdown and maintenance progress due to the dual pressure of the market and inventory, and the vast majority of polysilicon bases are in a state of maintenance, and polysilicon prices are close to the bottom.

As of this week, there are 19 China’s polysilicon companies , and 15 have been overhauled or shut down. According to statistics, the output of polysilicon in May 2024 was 182,700 tons, down 3.77% month-on-month. Polysilicon production is expected to be about 140,000-150,000 tons in June, down about 20% month-on-month. Although there are still plans to lower the utilization rate of downstream wafers, the total production of polysilicon in June has shrunk, and the tight supply and demand tension has also eased.

Source：China Silicon Industry